H.C. Wainwright reaffirms Buy rating on Disc Medicine stock at $118 target

Investing.com - H.C. Wainwright has reiterated its Buy rating and $118.00 price target on Disc Medicine (NASDAQ:IRON), maintaining its positive outlook on the biopharmaceutical company. Currently trading at $53.17, the stock has shown strong momentum with a 20% return over the past year, according to InvestingPro data. Analyst consensus remains highly bullish with a 1.25 rating, suggesting significant upside potential.

The research firm highlighted Disc Medicine’s progress with bitopertin for the treatment of Erythropoietic Protoporphyria (EPP), which has been the primary focus for many investors.

H.C. Wainwright emphasized that DISC-974 should not be overlooked, particularly for its potential in treating myelofibrosis (MF), suggesting the drug candidate has made a strong case for itself.

The firm’s assessment followed a discussion with Disc Medicine’s CEO, John Quisel, JD, PhD, as part of H.C. Wainwright’s "Emerging Ideas in Biopharma" call series.

The conversation also covered Disc Medicine’s plans for future clinical trials in polycythemia vera (PV), beta-thalassemia, and sickle cell disease, expanding the company’s potential therapeutic reach.

In other recent news, Disc Medicine presented encouraging results from its clinical programs at the European Hematology Association’s annual meeting. The company shared long-term data from the HELIOS open-label extension study of bitopertin, showing sustained reductions in protoporphyrin IX levels and favorable liver biomarkers, with plans to submit a New Drug Application in the latter half of 2025. Additionally, Disc Medicine reported durable responses in its DISC-0974 Phase 1b trial for myelofibrosis anemia, with significant improvements in hemoglobin levels and transfusion independence among patients. The ongoing Phase 2 RALLY-MF trial is expected to yield initial data in the second half of 2025.

H.C. Wainwright maintained a Buy rating on Disc Medicine, citing positive data from the HELIOS study, which supports bitopertin’s potential for accelerated approval as a treatment for erythropoietic protoporphyria. BMO Capital also reiterated its Outperform rating, highlighting Disc Medicine’s steady progress in its pipeline and commercialization efforts. Furthermore, at its Annual Meeting of Stockholders, Disc Medicine’s shareholders elected three Class II directors and approved executive compensation on an advisory basis. The board decided to hold annual advisory votes on executive compensation based on these results.

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